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Definition - Ledger, General Ledger, Subsidiary Ledger

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Definition: A ledger contains summarized financial information that is classified by assignment to a specific account number using a Chart of Accounts.

A ledger can be a physical book or also refer to software or spreadsheets where the financial information is recorded.

A General Ledger contains a summary of all the information recorded in subsidiary ledgers, which are ledgers that break down and show more information according to classifications.

Financial information for ledgers is taken from the company's journal.

Also Known As: Book of Final Entry

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